NASDAQ:RDFN

Redfin Reports Record-High Monthly Payments Chill Spring Selling Season—But Declining Rates Could Boost Activity

Retrieved on: 
Thursday, May 9, 2024
Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Fed, Sale, Family, Divorce, Housing, Real estate

That’s according to a new report from Redfin ( redfin.com ), the technology-powered real estate brokerage.

Key Points: 
  • That’s according to a new report from Redfin ( redfin.com ), the technology-powered real estate brokerage.
  • The supply of homes for sale lost momentum, with prospective sellers jittery about high rates.
  • There were fewer new listings during the four-week period ending May 5 than any comparable period on record except 2020 and 2023.
  • Many would-be sellers backed off when rates rose throughout April, opting to stay put to hold onto their low mortgage rate.

Redfin to Present at 19th Annual Needham Technology & Media Conference

Retrieved on: 
Wednesday, May 8, 2024
Professional Services, Technology, Residential Building & Real Estate, Insurance, Construction & Property, Fintech, Internet, Corporation

Redfin Corporation (NASDAQ: RDFN) today announced that Chief Financial Officer Chris Nielsen will present at the following event:

Key Points: 

Redfin Corporation (NASDAQ: RDFN) today announced that Chief Financial Officer Chris Nielsen will present at the following event:
A link to the live webcast, as well as the replay of this presentation, will be available at http://investors.redfin.com .

Redfin Reports First Quarter 2024 Financial Results

Retrieved on: 
Tuesday, May 7, 2024
Commercial Building & Real Estate, Apps, Applications, Technology, Construction & Property, REIT, Software, Internet, Artificial Intelligence, Residential Building & Real Estate, Sale, NAR, Corporation, Risk, Climate, Depreciation, Rent.com, Webcast, Marketing, Advertising, Video game

Redfin Corporation (NASDAQ: RDFN) today announced results for its first quarter ended March 31, 2024.

Key Points: 
  • Redfin Corporation (NASDAQ: RDFN) today announced results for its first quarter ended March 31, 2024.
  • First quarter revenue was $225.5 million, an increase of 5% compared to the first quarter of 2023.
  • “Market conditions recently got worse, but Redfin got better in the first quarter of 2024,” said Redfin CEO Glenn Kelman.
  • Achieved the best quarter on record for mortgage cross-selling, with a 28% attach rate in the first quarter of 2024, up 3 points from the first quarter in 2023.

Redfin Reports Low-Income Americans Have Lost the Homebuying Progress They Made During the Pandemic

Retrieved on: 
Monday, May 6, 2024
Software, Construction & Property, Professional Services, Technology, Fintech, Other Construction & Property, Other Technology, Residential Building & Real Estate, Sale, Home Mortgage Disclosure Act, Unemployment, Weather, Prevalence, HMDA, Housing, Real estate

The small bit of progress that Americans earning very low incomes made on taking out mortgages at the start of the pandemic has also been erased.

Key Points: 
  • The small bit of progress that Americans earning very low incomes made on taking out mortgages at the start of the pandemic has also been erased.
  • Just under 6% of new mortgages issued last year went to very low income Americans, down from 7.7% in 2020.
  • Very-low-income Americans now make up a smaller percentage of mortgage borrowers than they did in 2018 (7.1%).
  • Higher-income homebuyers are taking up the share of new mortgages that lower-income homebuyers have lost in the last several years.

Redfin Report: The Pool of People Taking Out Mortgages In America Is Becoming Less White

Retrieved on: 
Friday, May 3, 2024
Residential Building & Real Estate, Fintech, Construction & Property, Professional Services, Brookings Institution, Bangladesh Technical Education Board, Fertility, Data, HMDA, Home Mortgage Disclosure Act, Death, Ageing, COVID-19, Growth, Real estate

While that’s a far higher share than any other group, it’s down from 64% in 2022 and 70.4% in 2018.

Key Points: 
  • While that’s a far higher share than any other group, it’s down from 64% in 2022 and 70.4% in 2018.
  • Meanwhile, the share of new mortgages taken out by Hispanic buyers increased to 14% in 2023 from 12.6% in 2022 and 11% in 2018.
  • “The pool of homebuyers taking out mortgages is becoming less white because America is becoming more diverse, and many people of color are in their prime homebuying years,” said Redfin Senior Economist Elijah de la Campa.
  • White people took out 1,582,643 mortgages in 2023, down 22.1% from a year earlier and down 31.3% from 2018.

Redfin Report: For the First Time in Nearly 2 Years, There’s No Major American Metro Where Home Prices Are Falling

Retrieved on: 
Thursday, May 2, 2024
Online Retail, Other Construction & Property, Retail, Residential Building & Real Estate, Construction & Property, Fed, Sale, Love, News, Housing, Real estate

That’s according to a new report from Redfin ( redfin.com ), the technology-powered real estate brokerage.

Key Points: 
  • That’s according to a new report from Redfin ( redfin.com ), the technology-powered real estate brokerage.
  • Mortgage rates also continued climbing, with the weekly average hitting its highest level in five months.
  • High prices and rates drove the median monthly housing payment to a record $2,890, up 15% year over year.
  • It’s followed by Detroit (14.9%), San Jose, CA (13.6%), West Palm Beach, FL (13.4%) and New Brunswick, NJ (12.8%).

Redfin Reports Nearly 1 in 5 People Who Plan To Vote for Trump Want to Live in a Place Where Abortion Is Legal

Retrieved on: 
Monday, April 29, 2024
Residential Building & Real Estate, White House, Federal Government, Construction & Property, Data Management, Technology, Finance, Professional Services, Elections, Campaigns, Women, Public Policy, Government, LGBTQ+, Family, Software, Lifestyle, Consumer, Internet, LGBTQ, School, Abortion, Qualtrics

(NASDAQ: RDFN) —Nearly one of every five (17.6%) U.S. homeowners and renters who plan to vote for Donald Trump in the upcoming presidential election want to live in a place where abortion is legal.

Key Points: 
  • (NASDAQ: RDFN) —Nearly one of every five (17.6%) U.S. homeowners and renters who plan to vote for Donald Trump in the upcoming presidential election want to live in a place where abortion is legal.
  • The nationally representative survey was fielded to 2,995 U.S. homeowners and renters, of whom 1,162 said they plan to vote for Donald Trump and 1,171 said they plan to vote for Joe Biden.
  • Redfin refers to these respondents as “Trump voters” and "Biden voters” throughout the report.
  • More than half don’t want to live in a place where recreational weed is legal (53%) and 52.3% don’t want to live somewhere that has easy access to vote-by-mail.

Redfin Reports Home Prices Stagnate in Florida and Texas as Supply Soars

Retrieved on: 
Thursday, April 25, 2024
Residential Building & Real Estate, Communications, Construction & Property, Public Relations, Investor Relations, Sale, Water damage, Federal Reserve, Chicken, Housing, Federal, Insurance, Acceleration, Real estate

That is according to a new report from Redfin ( redfin.com ), the technology-powered real estate brokerage.

Key Points: 
  • That is according to a new report from Redfin ( redfin.com ), the technology-powered real estate brokerage.
  • PRICE DROPS: Of the 10 metro areas where sellers were most likely to cut their list prices, five are in Florida and two are in Texas.
  • PRICES: Median sale prices fell from a year earlier in three metros, one of which is in Florida and one of which is in Texas: North Port-Sarasota (-4.6%), Oklahoma City (-1.5%) and San Antonio (-0.3%).
  • Florida and Texas have been building more homes than anywhere else in the country, partly to accommodate the flood of newcomers that showed up during the pandemic homebuying boom.

Redfin Reports Buying a Home Costs More Than Ever, With Prices Hitting All-Time High and Mortgage Rates Rising

Retrieved on: 
Thursday, April 25, 2024
Construction & Property, Data Analytics, Internet, Finance, Data Management, Professional Services, Technology, Residential Building & Real Estate, Fed, Sale, Growth, Face, Housing, Real estate

That’s according to a new report from Redfin ( redfin.com ), the technology-powered real estate brokerage.

Key Points: 
  • That’s according to a new report from Redfin ( redfin.com ), the technology-powered real estate brokerage.
  • The average weekly mortgage rate hit 7.1% this week, its highest level since November 2023, as it became clear the Fed would keep interest rates high longer than expected.
  • High prices and mortgage rates drove the median monthly housing payment to a record $2,843, up 13% year over year.
  • New listings are up 10.2% year over year, though growth in listings may be losing momentum as stubbornly high rates solidify the lock-in effect.

Redfin Home Price Index: Price Growth Stabilizes in March, With Prices Up 0.6% From a Month Earlier

Retrieved on: 
Tuesday, April 23, 2024
Residential Building & Real Estate, Communications, Construction & Property, Public Relations, Investor Relations, Sale, Redfin, Federal Reserve, San Francisco Bay Area, Fell, Real estate

On a year-over-year basis, prices rose 7.3%, also little changed from the prior month’s 7% annual increase.

Key Points: 
  • On a year-over-year basis, prices rose 7.3%, also little changed from the prior month’s 7% annual increase.
  • This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in prices of single-family homes.
  • The RHPI measures sale prices of homes that sold during a given period, and how those prices have changed since the last time those same homes sold.
  • It’s similar to the S&P CoreLogic Case-Shiller Home Price Indices but publishes more than one month earlier.